Common use of Partial Releases Clause in Contracts

Partial Releases. The Lender shall, provided always that no Default ---------------- shall have occurred and be continuing, as promptly as is practicable after __________ in each year (the period commencing on the date hereof and ending _________________ in each subsequent 12-month period ending on ______________ being hereinafter referred to as a "Plan Year"), to release that number of Pledged Shares then being held to secure the Loan which is equal to the number of such Pledged Shares held as of the last day of the Plan Year multiplied by a fraction, the numerator of which is the aggregate amount of all principal and interest payments made on the Note during the Plan Year and the denominator of which is the sum of the numerator plus the unpaid principal and interest of the Note as of the last day of such Plan Year.

Partial Releases. The Lender shallagrees, provided always that no Default ---------------- ----------------- or Event of Default shall have occurred and be continuing, as promptly as is practicable after _____________ in each year (the period commencing on the date hereof ___________ and ending _on ________________ in each subsequent 12-month period ending on ______________ being hereinafter herein after referred to as a "Plan Year"), to release that number of Pledged Shares then being held to secure the Loan which is equal to the number of such Pledged Shares held as of the last day of the Plan Year multiplied by a fraction, the numerator of which is the aggregate amount of all principal and interest payments made on the Note during the Plan Year and the denominator of which is the sum of the numerator plus the unpaid principal and interest of the Note as of the last day of such Plan Year.

Partial Releases. The Lender shallagrees, provided always that no Default ---------------- ----------------- or Event of Default shall have occurred and be continuing, as promptly as is practicable after ________________ in each year (the period commencing on the date hereof and ending __________________ in and ending _____________, 1998 and each subsequent 12-month period ending on ______________ being hereinafter herein after referred to as a "Plan Year"), to release that number of Pledged Shares then being held to secure the Loan which is equal to the number of such Pledged Shares held as of the last day of the Plan Year multiplied by a fraction, the numerator of which is the aggregate amount of all principal and interest payments made on the Note during the Plan Year and the denominator of which is the sum of the numerator plus the unpaid principal and interest of the Note as of the last day of such Plan Year.

Partial Releases. The Lender shallagrees, provided always that no ---------------- Default ---------------- or Event of Default shall have occurred and be continuing, as promptly as is practicable after after__________ in each year (the period commencing on the date hereof and ending commencing_____________ and ending______________ in and each subsequent 12-month period ending on on_______________ being hereinafter referred to as a "Plan Year"), to release that number of Pledged Shares then being held to secure the Loan which is equal to the number of such Pledged Shares held as of the last day of the Plan Year multiplied by a fraction, the numerator of which is the aggregate amount of all principal and interest payments made on the Note during the Plan Year and the denominator of which is the sum of the numerator plus the unpaid principal and interest of the Note as of the last day of such Plan Year.

Partial Releases. The Lender shallagrees, provided always that no Default ---------------- shall have occurred and be continuing, as promptly as is practicable after after__________ in each year (the period commencing on the date hereof and ending commencing_____________ and ending______________ in and each subsequent 12-month period ending on on_______________ being hereinafter referred to as a "Plan Year"), to release that number of Pledged Shares then being held to secure the Loan which is equal to the number of such Pledged Shares held as of the last day of the Plan Year multiplied by a fraction, the numerator of which is the aggregate amount of all principal and interest payments made on the Note during the Plan Year and the denominator of which is the sum of the numerator plus the unpaid principal and interest of the Note as of the last day of such Plan Year.

Partial Releases. The Lender shallagrees, provided always that no Default ---------------- or Event of Default shall have occurred and be continuing, as promptly as is practicable after _____________ in each year (the period commencing on the date hereof _______________ and ending _________________ in , 1997 and each subsequent 12-month period ending on ______________ being hereinafter referred to as a "Plan Year"), to release that number of Pledged Shares then being held to secure the Loan which is equal to the number of such Pledged Shares held as of the last day of the Plan Year multiplied by a fraction, the numerator of which is the aggregate amount of all principal and interest payments made on the Note during the Plan Year and the denominator of which is the sum of the numerator plus the unpaid principal and interest of the Note as of the last day of such Plan Year.

Partial Releases. The Lender shallagrees, provided always that no Default ---------------- or Event of Default shall have occurred and be continuing, as promptly as is practicable after ______________ in each year (the period commencing on the date hereof ___________ and ending _________________ in and each subsequent 12-month period ending on ______________ being hereinafter referred to as a "Plan Year"), to release that number of Pledged Shares then being held to secure the Loan which is equal to the number of such Pledged Shares held as of the last day of the Plan Year multiplied by a fraction, the numerator of which is the aggregate amount of all principal and interest payments made on the Note during the Plan Year and the denominator of which is the sum of the numerator plus the unpaid principal and interest of the Note as of the last day of such Plan Year.

Partial Releases. The Lender shallagrees, provided always that no Default ---------------- shall have occurred and be continuing, as promptly as is practicable after ___________ in each year (the period commencing on the date hereof and ending _________________ in each subsequent 12-month period ending on ______________ being hereinafter referred to as a "Plan Year"), to release that number of Pledged Shares then being held to secure the Loan which is equal to the number of such Pledged Shares held as of the last day of the Plan Year multiplied by a fraction, the numerator of which is the aggregate amount of all principal and interest payments made on the Note during the Plan Year and the denominator of which is the sum of the numerator plus the unpaid principal and interest of the Note as of the last day of such Plan Year.